The debt recovery appeal was dismissed as withdrawn after the respondents confirmed payment of Rs. 3.35 Crores under a One Time Settlement agreement.
The appeal was dismissed as withdrawn; all pending proceedings stand closed.
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DEBT RECOVERY APPELLATE TRIBUNALMUMBAI (SITTING AT -CHENNAI)
Misc. AppealDy No. 1347/2023
Dated: 07.04.2025
The matter is taken up for hearing by way of a Praecipe filed by the Petitioners/Appellants for seeking urgent relief.
Learned Counsel for Petitioners/Appellants submitted that as per One Time Settlement (OTS) proposal received from Invent Asset Securitisation and Reconstruction Pvt. Ltd., the Petitioners/Appellants paid a sum of Rs.3.35 Crores and thus he prays for dismissal of this Appeal as withdrawn.
Learned Counsel for Respondent Institution Mr. Inderjeet Deshmukh confirms the payment of Rs.3.35 Crores in terms of OTS reached.
The Minutes of Order by Consent is produced. This Minutes of Order is also confirms that the
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OTS was reached between the parties for Rs;3r35 Crores.
In view of the settlement of dispute between the parties concerned by entering into the OTS, the' payment thereafter, this Tribunal, permits the Petitioners/Appellants to withdraw tills Appeal. Thus this Appeal in Misc. Appeal Dy. No. 1347/2023 is dismissed as withdrawn. All pending IAS, if any, stand closed. CHAIRPERSON, DRAT, CHENNAI (IN-CHARGE, DRAT, MUMBAI) PAM
Petitioners/Appellants
Invent Asset Securitisation and Reconstruction Pvt. Ltd.
CHAIRPERSON DRAT CHENNAI
PAM
As recorded by the court registry
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